Applying for a residency permit or visa in Panama can be confusing due to the variety of ways a person can apply to become a legal resident of the country. For this reason, there are law firms such as Legal Solutions Panama that are experts in this area and can advise you in this regard. First, you should know all the possibilities that exist to obtain residency in Panama. These are the categories for which you are eligible:
- Investor
- Friendly countries
- Retired or pensioners
- Professionals
- Family reunification
- Multinational company headquarters
- Education or students
- Hired technician
- Foreign hired
Residence permit as an investor
There are different types of permanent residence permits in Panama based on economic solvency and investment in different types of assets. One of them is the permanent residence permit for reasons of economic solvency by opening a time deposit. Another type of permit is the permanent residence permit for reasons of economic solvency by investing in real estate.
In addition, there is the possibility of applying for a permanent residence permit for reasons of economic solvency by means of a mixed investment, which combines a fixed-term deposit and real estate. Finally, there is a permit under the category of Investor or Investor Visa for citizens of Friendly Countries. Citizens of these nations may apply for their visas based on investment in real estate or time deposits.
Residence permit under the category of Friendly
The provisional residence permit for foreigners of specific nationalities is available to all foreigners whose countries maintain friendly, professional and economic investment relations with the Republic of Panama. Previously, this permit was granted as permanent residence, but since July 2021, the regulation has changed and now it is granted as a provisional permit.
Residence permit for retirees or pensioners in Panama
The Residence Permit for Retirees or Pensioners is specially designed for those foreigners who receive a retirement or pension from their government, an international organization or a private company, and wish to settle in Panama. This permit is reserved for those who have sufficient economical means to cover all their living expenses, as well as those of their dependents in the country.
Residence permit for professionals
The Panamanian regulation establishes the provisional permanent residence permit as a foreign professional as an option for those foreigners who wish to practice their profession in the country. This type of visa is available for professionals of any nationality, as long as the profession is not restricted by the Constitution of the Republic of Panama or reserved exclusively to Panamanian citizens by naturalization.
Residence permit for family reunification
The provisional residence permit is granted to those foreigners who are married to a Panamanian citizen and who live together in a singular, stable and continuous relationship. On the other hand, the residence permit for Panamanian children is a type of family reunification visa granted to foreigners who have Panamanian children of at least five (5) years of age. If the child has not yet reached five years of age, it is not possible to apply for this permit. Finally, the residence permit as a dependent of a permanent resident is available to foreigners who are spouses, children under 18 years of age, disabled relatives and dependent parents of a two-year provisional resident, a permanent resident or a Panamanian citizen.
Residence permit as an SEM worker
Panama offers to the workers of companies that have obtained the category of Multinational Headquarters Company, a series of benefits not only fiscal but also migratory. All foreign workers of companies declared Multinational Headquarters Company can apply for this type of visa. There are three types of visas for workers of Multinational Headquarters Companies: permanent, temporary or for special events.
Residence permit for students
The residence permit for students can be requested by the foreigner who wishes to study full time in public or private educational centers, of basic, medium, superior and specialized level, recognized by the Ministry of Education of Panama.
Residence permit for expert technician
The regulation calls this permanent temporary residence permit for a person hired as an expert or technician within the 15% of specialized personnel in the field.
Residence permit for foreigners under the 10% category
The legislation calls this permit a provisional permanent residence authorization for foreign personnel hired by private companies within the 10% of the ordinary staff.
Legal Solutions will assist you in handling your residency application
Legal Solutions Panama offers the service of processing residence permits or visas for Panama, regardless of the category. Their immediate response with a team of experts is what you need to start the process.
